Unveiled: Mahindra and Mahindra's all-new XUV 500

Mahindra & Mahindra, India's largest utility vehicles and tractor maker, said on Thursday it has priced its new world sports utility vehicle model 'XUV 500,' beginning at Rs 10.8 lakh.

The top-end version, ex-showroom Delhi, has been priced at Rs 12.9 lakh.

'This is our premium offering aimed at the global market with a very competitive price. We believe the car will expand the market for us and create a new category for itself,' Mahindra Group vice-chairman and managing director Anand Mahindra said at the launch.